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SheilaAvi
December 8, 2022
Question

Payroll

  • December 8, 2022
  • 1 reply
  • 0 views

I would like my payroll expenses to show up in the period the work in done, despite payroll happening in the next period.

 

Example: We pay 2 times per month. For the second period of the month from the 15th-31st, the payroll is done on the 2nd of the following month and ends up showing up in the expenses of the following month.

 

How can set it up to show payroll expense in the month as the pay period? Would changing the "Pay date" to the last day of the month in QBO online payroll settings correct this? Is that the right way? How do I control the date on the expense debits done by QBO payroll?

 

Thanks.

1 reply

A
Alex M
December 8, 2022

Hi there SheilaAvi,

 

it's important that all your payroll transactions be entered correctly so that your books can be well balanced. QuickBooks Online Payroll is a great tool able to help you pay your employees for the hours they've worked. I can provide some information about payroll.

 

In QuickBooks Online, the expense for payroll can only be set on the pay date for the pay run, so if you'd like the pay expenses to be calculated on the last day of a month, the pay date would need to be in the period as well. to know if you should be doing that in order to make sure your books are well represented, I recommend reaching out to your accountant. Their accounting knowledge will be able to guide you in which way would be best to have the dates set up in your books so all is well balanced. You can invite your accountant to your books so they can see the transactions by going to the My accountant tab. There's also a Find a pro to help button in this section that can help you find a local accountant that has experience with QuickBooks Online.

 

If you have any other questions, feel free to reach out here.

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